opportunity cost
Språk: English
The cost of the next best alternative foregone as a result of making a decision. It is the loss of the benefit that could have been enjoyed if a different choice had been made. The concept is often used in economics and decision theory to describe the trade-offs that people make when making decisions.
- The cost of the next best alternative foregone as a result of making a decision. It is the loss of the benefit that could have been enjoyed if a different choice had been made. The concept is often used in economics and decision theory to describe the trade-offs that people make when making decisions.
På andre språk
- alternativkostnad Norwegian
- alternativverdi Norwegian
- alternativverdiens Norwegian
- nyttekostnad Norwegian
- alternativ kostnad Norwegian
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